Trump said that many companies were "getting away with murder" and that there would be more competitive bidding practices for federal contracts in his administration.
Dow component Pfizer's (PFE) stock fell more than 2% immediately after the comments.
Mylan (MYL), which has already come under Congressional scrutiny for dramatic price hikes of its life-saving allergy medication EpiPen, fell 3.5%, and Bristol-Myers Squibb dived 4%.
Allergan (AGN) and Valeant (VRX), two other biotechs that have been criticized for raising drug prices, also fell more than 3%. And the iShares Nasdaq Biotechnology ETF (IBB), which owns many of these companies, fell 3% too.
That's just the first hit for "stock prices fell after criticism". There's plenty of that, and four percent are nothing. What's so chilling? That 4 percent of anything can mean billions of dollars? The mechanism of stock markets? That social media and "traditional media" have this reach and effect just by things being said? That the gaming industry became this huge and heartless after such short time, and how some in it would LOVE to be able to "capture" audiences like the pharma industry can? None of these things? Or really just mostly the Chinese Communist Party, the one thing most of us have no say and no responsibility in, rather than those aspects of this which we share in every day?
And what comes after chilling? Freezing? Is it really "gross" to merely call this chilling? What would be neither an under- nor an overstatement?
Comments
So, 4 something percent. Do you find this chilling, too?
http://money.cnn.com/2017/01/11/investing/donald-trump-press...
That's just the first hit for "stock prices fell after criticism". There's plenty of that, and four percent are nothing. What's so chilling? That 4 percent of anything can mean billions of dollars? The mechanism of stock markets? That social media and "traditional media" have this reach and effect just by things being said? That the gaming industry became this huge and heartless after such short time, and how some in it would LOVE to be able to "capture" audiences like the pharma industry can? None of these things? Or really just mostly the Chinese Communist Party, the one thing most of us have no say and no responsibility in, rather than those aspects of this which we share in every day?
And what comes after chilling? Freezing? Is it really "gross" to merely call this chilling? What would be neither an under- nor an overstatement?